Budget Highlights

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By Morningstar |  10-07-14
Taxes

Income tax exemption limits have been altered for only two categories.

The Rs 2 lakh exemption limit has been increased to Rs 2.5 lakh for individuals below 60 years of age. While for senior citizens, the limit has gone up from Rs 2.5 lakh to Rs 3 lakh.

There is no change in surcharge and education cess.

The limit for Section 80C has been hiked to Rs 1,50,000.

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